Gen Z is redefining the art of saving money, and it’s all about striking the right balance between budgeting and indulging in life’s little luxuries. A new survey of 1,000 young adults aged 18-29 shows that 95% are finding crafty ways to save without giving up on the treats that brighten their day.
A massive 46% have activated the ’round up’ feature on their banking apps to boost their savings, while 28% have cashed in on reselling platforms for a cool £184 on average just by selling items they no longer need. Plus, a third are smartly using Lifetime ISA accounts, grabbing that enticing 25% government bonus for future home or retirement plans.
But it’s not all about saving. For 23% of Gen Z, a weekly treat like a coffee, a meal out, or a little shopping spree is crucial to ‘keep them going.’ These little indulgences are not seen as reckless but as balanced lifestyle choices.
Spending habits have shifted for 58%, mainly due to the rising cost of living. Yet, many attribute this to improved money management skills, with social media and money apps playing a big role in spreading financial savvy. A decent 24% say platforms like YouTube and Instagram have boosted their financial awareness, while 22% believe learning from past generational mistakes has sharpened their money sense.
Rajan Lakhani from Plum highlights that Gen Z has moved past the unfair “avocado on toast” stereotype, positioning themselves as one of the most financially aware generations. Raised in times of economic uncertainty, their focus on budgeting, saving, and tracking spending proves they are true Savvy Legends.
Gen Z shows us that you can have your cake and eat it too—smart saving meets life’s sweet treats! 🍰💷
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